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ACER Alert: Hong Kong Enacts Competition Law

After years of debate, on 14 June 2012 and in its last days of office, the Legislative Council finally enacted Hong Kong’s first cross- sector competition law. Although the Competition Ordinance provides a framework for what is generally agreed to be a controversial new area of regulatory control for Hong Kong, much work is yet to be done before the law can be implemented, which is not expected to be before 2014. During the transitional period, the Government will take steps to establish a new Competition Commission and Competition Tribunal under subsidiary legislation subject to negative vetting by the Legislative Council.